Quant/Modeling Associate in Buffalo, NY at Key Bank- Corporate

Date Posted: 7/3/2018

Job Snapshot

  • Employee Type:
  • Location:
    239 Van Rensselaer Street
    Buffalo, NY
  • Job Type:
  • Experience:
    Not Specified
  • Date Posted:

Job Description

ABOUT THE JOB: As a Quantitative Associate, this person will provide subject matter expertise in the field of Model Risk Management in a hybrid role that includes both model risk governance and independent model validation for various lines of business (LOBs). This role performs independent periodic review of models following internal standards to assess the models’ continuing validity and control processes. This person works intimately with Independent Model Validation and Model Risk Governance.

Essential Job Functions
  • Perform model validation exercises through independent model reviews and governance and control testing of models used throughout the Organization.
  • Develop an in-depth understanding of risk concepts, practices, and procedures within KeyCorp's Model Risk Program.
  • Understand the model’s conceptual framework, including estimation technique, variables and assumptions. Develop clear understanding of the model’s role in LOB (line of business) decision-making process
  • Review the model periodically as outlined by internal standards and determine whether the model is performing as intended and existing ongoing monitoring activities and governance and control environment are sufficient.
  • Works closely with Independent Model Validation, Model Risk Governance and model stakeholders through the review process to include: ensuring compliance with Model Risk policies and procedures; review of governance and controls associated with models, and ongoing performance monitoring; validation report review/preparation; and communication of findings and associated model risk to LOBs and management.
  • Prepare written summary and analysis of validation/review work performed for management. Support model risk reporting and data management.
  • Other projects/tasks as assigned by Management or Director of Model Risk Governance.

Required Qualifications:

  • Master’s or Bachelor’s degree in Statistics, Mathematics, or other quantitative field (Master’s preferred); or Bachelor’s degree in Finance, Accounting, or Economics (Master’s preferred) with a strong knowledge of statistics and mathematics.
  • 1-2 years of modeling, model validation, model risk management Working knowledge of SAS and SQL
  • Strong verbal and written communication skills
  • Ability to work independently and in a team environment
  • Strong organizational skills are required to perform multiple tasks simultaneously to meet strict deadlines
  • Flexibility to switch priorities based on the needs of the company in a fast-paced environment
  • Ability to grasp complex processes quickly and be able to identify risks and compensating controls
  • Excellent problem solving abilities and results oriented; able to make decisions independently

KeyCorp's roots trace back 190 years to Albany, New York. Headquartered in Cleveland, Ohio, Key is one of the nation's largest bank-based financial services companies, with assets of approximately $134.5 billion at March 31, 2017. Key provides deposit, lending, cash management, insurance, and investment services to individuals and businesses in 15 states under the name KeyBank National Association through a network of more than 1,200 branches and more than 1,500 ATMs. Key also provides a broad range of sophisticated corporate and investment banking products, such as merger and acquisition advice, public and private debt and equity, syndications, and derivatives to middle market companies in selected industries throughout the United States under the KeyBanc Capital Markets trade name. KeyBank is Member FDIC.

Key Enterprise Risk Management provides leadership on risk management strategies and initiatives for credit, market, compliance and operational risk, as well as portfolio management, quantitative analytics and asset recovery activities. Key's objective is to achieve and sustain strong enterprise risk management practices consistent with industry standards and regulatory expectations in support of business strategies. To reach this goal, risk is identified, measured and managed in a manner that promotes effective decision-making and instills accountability. A strong risk culture is critical to achieving our vision to become the best regional bank in the U.S.


KeyCorp is an Equal Opportunity and Affirmative Action Employer committed to engaging a diverse workforce and sustaining an inclusive culture. All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability, or veteran status.

JobID: 30114BR

Not Ready to Apply?

Joining our Talent Network will enhance your job search and application process. Whether you choose to apply or just leave your information, we look forward to staying connected with you.